2018-2019

THE STATE OF

HEALTH INSURANCE

IN CHINA

Major trends and changes in the International Private Medical Insurance industry in China

About Pacific Prime's

State of Health Insurance in China Report

To make the most informed insurance purchasing decisions, it is important for both individuals and businesses to keep abreast of all trends and issues facing the health insurance industry in China and globally.

Our State of Health Insurance in China Report offers an in-depth snapshot of the top trends, changes, and issues facing the International Private Medical Insurance industry in China and worldwide - as told by our very own advisors and 3 prominent insurance providers: Aetna, Bupa Global, and Cigna.

Here's a quick overview of the top challenges and issues facing China-based individuals and businesses in 2019:

Issues facing individuals #1: Burgeoning local market

With a shift in the number of expats moving to and living in China, we've seen an uptick in the number of individuals favoring local and regional health insurance policies.

Issues facing individuals #2: Maternity focus

Maternity insurance plans continue to be popular, however, policies with maternity benefits are increasingly associated with more limits and restrictions due to the high cost of care.

Issues facing individuals #3: Renewability concerns

Health insurance inflation does run high in China, making the renewability of plans more fragile in the region.

Issues facing individuals #4: Foreign insurers move in

In such a competitive market, a number of less established insurers are looking to gain market share by offering plans with enticingly low premiums, only to drastically increase rates the following year.

Issues facing individuals #5: Foreign insurers move in

In 2018, China opened up its insurance market to welcome wholly foreign-owned insurers. This will likely have larger ramifications in the coming years.

Issues facing businesses #1: Wellness focus

There has been a greater focus on employee wellbeing in China, such as creating a proper work-life balance.

Issues facing businesses #2: Cost control

Rising costs at VIP and private healthcare facilities continue to burden employers and insurers. As a result, many companies are cutting benefits or introducing other cost containment measures to lower premiums.